Specifically, the Asahi Shimbun reported a 40,000 yen price which translates to $428 in ol' greenbacks. For reference, the PS3 launched at 50,000 yen for the base model and 72,000 yen for the 60GB version. In the US, the launch prices were $500 and $600, respectively. So possibly a little more affordable than the launch of the PS3 but significantly more expensive than how much the PS3 costs now. Which to tell the truth, isn't that surprising.

The Japanese paper also references a controller that has the same shape as the Dual Shock 3 with the addition of some sort of touchpad. We'll find out what's what on February 20th. [Asahi via The Verge]